KLX Energy Services (KLXE) 10-Q 10 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-38609
Entity Registrant Name	KLX Energy Services Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4904146
Entity Address, Address Line One	3040 Post Oak Boulevard
Entity Address, Address Line Two	15th Floor
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	832
Local Phone Number	844-1015
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	KLXE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,407,421
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001738827
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 82.1	$ 57.4
Accounts receivable–trade, net of allowance of $6.1 and $5.7	161.8	154.3
Inventories, net	31	25.7
Prepaid expenses and other current assets	13.6	17.3
Total current assets	288.5	254.7
Property and equipment, net	199	168.1
Operating lease assets	32.1	37.4
Intangible assets, net	2	2.1
Other assets	4.9	3.6
Total assets	526.5	465.9
Current liabilities:
Accounts payable	96.8	84.2
Accrued interest	4.7	4.8
Accrued liabilities	33.5	41
Current portion of operating lease obligations	14.4	14.2
Current portion of finance lease obligations	13.2	10.2
Total current liabilities	162.6	154.4
Long-term debt	283.8	283.4
Long-term operating lease obligations	17.1	22.8
Long-term finance lease obligations	22.8	20.3
Other non-current liabilities	0.5	0.8
Commitments, contingencies and off-balance sheet arrangements (Note 7)
Stockholders’ equity (deficit):
Common stock, $0.01 par value; 110.0 authorized; 16.8 and 14.3 issued	0.1	0.1
Additional paid-in capital	552.7	517.3
Treasury stock, at cost, 0.4 shares and 0.4 shares	(5.3)	(4.6)
Accumulated deficit	(507.8)	(528.6)
Total stockholders’ equity (deficit)	39.7	(15.8)
Total liabilities and stockholders' equity	$ 526.5	$ 465.9

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable - trade, allowance for doubtful accounts	$ 6.1	$ 5.7
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	110,000,000	110,000,000
Common stock, shares issued (in shares)	16,800,000	14,300,000
Treasury stock (in shares)	400,000	400,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues	$ 234	$ 184.4	$ 473.6	$ 336.7
Costs and expenses:
Cost of sales	173.3	150.9	354.2	285.9
Depreciation and amortization	17.6	14	34.1	27.7
Selling, general and administrative	22	18	48.2	33
Research and development costs	0.3	0.1	0.6	0.2
Bargain purchase gain	1.2	0	(2)	0
Operating income (loss)	19.6	1.4	38.5	(10.1)
Non-operating expense:
Interest expense, net	8.5	8.7	17.8	17
Net income (loss) before income tax	11.1	(7.3)	20.7	(27.1)
Income tax (benefit) expense	(0.3)	0.2	(0.1)	0.3
Net income (loss)	$ 11.4	$ (7.5)	$ 20.8	$ (27.4)
Net income (loss) per share-basic (in dollars per share)	$ 0.71	$ (0.67)	$ 1.38	$ (2.58)
Net income (loss) per share-diluted (in dollars per share)	$ 0.71	$ (0.67)	$ 1.37	$ (2.58)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Dec. 31, 2021			10.5
Beginning balance at Dec. 31, 2021	$ (51.4)	$ (0.2)	$ 0.1	$ 478.1	$ (4.3)	$ (525.3)	$ (0.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures (in shares)			0.2
Restricted stock, net of forfeitures	0.7			0.7
Purchase of treasury stock	(0.3)				(0.3)
Issuance of common stock, net of cost (in shares)			0.7
Issuance of common stock, net of cost	3.7			3.7
Net income (loss)	(19.9)					(19.9)
Ending balance (in shares) at Mar. 31, 2022			11.4
Ending balance at Mar. 31, 2022	(67.4)		$ 0.1	482.5	(4.6)	(545.4)
Beginning balance (in shares) at Dec. 31, 2021			10.5
Beginning balance at Dec. 31, 2021	(51.4)	$ (0.2)	$ 0.1	478.1	(4.3)	(525.3)	$ (0.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(27.4)
Ending balance (in shares) at Jun. 30, 2022			12.3
Ending balance at Jun. 30, 2022	(69.5)		$ 0.1	487.9	(4.6)	(552.9)
Beginning balance (in shares) at Mar. 31, 2022			11.4
Beginning balance at Mar. 31, 2022	(67.4)		$ 0.1	482.5	(4.6)	(545.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures	0.8			0.8
Issuance of common stock, net of cost (in shares)			0.9
Issuance of common stock, net of cost	4.6			4.6
Net income (loss)	(7.5)					(7.5)
Ending balance (in shares) at Jun. 30, 2022			12.3
Ending balance at Jun. 30, 2022	(69.5)		$ 0.1	487.9	(4.6)	(552.9)
Beginning balance (in shares) at Dec. 31, 2022			14.3
Beginning balance at Dec. 31, 2022	(15.8)		$ 0.1	517.3	(4.6)	(528.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures	0.7			0.7
Purchase of treasury stock	(0.7)				(0.7)
Greene's acquisition (in shares)			2.4
Greene's acquisition	34			34
Issuance of common stock, net of cost (in shares)			0.1
Issuance of common stock, net of cost	(0.1)			(0.1)
Net income (loss)	9.4					9.4
Ending balance (in shares) at Mar. 31, 2023			16.8
Ending balance at Mar. 31, 2023	27.5		$ 0.1	551.9	(5.3)	(519.2)
Beginning balance (in shares) at Dec. 31, 2022			14.3
Beginning balance at Dec. 31, 2022	(15.8)		$ 0.1	517.3	(4.6)	(528.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	20.8
Ending balance (in shares) at Jun. 30, 2023			16.8
Ending balance at Jun. 30, 2023	39.7		$ 0.1	552.7	(5.3)	(507.8)
Beginning balance (in shares) at Mar. 31, 2023			16.8
Beginning balance at Mar. 31, 2023	27.5		$ 0.1	551.9	(5.3)	(519.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeitures	0.8			0.8
Net income (loss)	11.4					11.4
Ending balance (in shares) at Jun. 30, 2023			16.8
Ending balance at Jun. 30, 2023	$ 39.7		$ 0.1	$ 552.7	$ (5.3)	$ (507.8)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 20.8	$ (27.4)
Adjustments to reconcile net income (loss) to net cash flows used in operating activities
Depreciation and amortization	34.1	27.7
Non-cash compensation	1.5	1.5
Amortization of deferred financing fees	0.8	0.6
Provision for inventory reserve	0.1	0.3
Gain on disposal of property, equipment and other	(6.2)	(5.3)
Bargain purchase gain	(2)	0
Other	0.1	0.1
Changes in operating assets and liabilities:
Accounts receivable	9.1	(20.1)
Inventories	(5.3)	(3.9)
Prepaid expenses and other current and non-current assets	9	4.2
Accounts payable	4.8	9.6
Other current and non-current liabilities	(15.4)	(1.9)
Net cash flows provided by (used in) operating activities	51.4	(14.6)
Cash flows from investing activities:
Purchases of property and equipment	(26.5)	(13.6)
Proceeds from sale of property and equipment	8.5	6.5
Cash from acquisition	1.1	0
Net cash flows used in investing activities	(16.9)	(7.1)
Cash flows from financing activities:
Purchase of treasury stock	(0.7)	(0.3)
Borrowings on ABL Facility	0	20
Proceeds from stock issuance, net of costs	(0.1)	8.3
Payments on finance lease obligations	(6.4)	(3.4)
Payments of debt issuance costs	(0.3)	0
Proceeds from finance lease refinancing	0	1.4
Change in financed payables	(2.3)	(0.8)
Net cash flows (used in) provided by financing activities	(9.8)	25.2
Net change in cash and cash equivalents	24.7	3.5
Cash and cash equivalents, beginning of period	57.4	28
Cash and cash equivalents, end of period	82.1	31.5
Cash paid during period for:
Income taxes paid, net of refunds	0.6	0.6
Interest	17.4	16
Supplemental schedule of non-cash activities:
Change in deposits on capital expenditures	1.1	0
Change in accrued capital expenditures	$ 4.5	$ 4

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business KLX Energy Services Holdings, Inc. (the “Company”, “KLXE”, “KLX Energy Services”, “we”, “us” or “our”) is a growth-oriented provider of diversified oilfield services to leading onshore oil and natural gas exploration and production (“E&P”) companies operating in both conventional and unconventional plays in major active basins throughout the United States. The Company delivers mission critical oilfield services focused on drilling, completion, production and intervention activities for technically demanding wells in over 60 service and support facilities located throughout the United States. The Company offers a complementary suite of proprietary products and specialized services that is supported by technically skilled personnel and a broad portfolio of innovative in-house manufacturing, repair and maintenance capabilities. KLXE’s primary services include coiled tubing, directional drilling, fishing, flowback, fluid pumping, hydraulic fracturing rentals, pressure control, pressure pumping, rig-assisted snubbing, special situation services, thru-tubing and wireline. KLXE’s primary rentals include accommodation units, blow out preventers, downhole tools, hydraulic fracturing stacks and tubulars. KLXE’s primary product offering includes a suite of proprietary dissolvable and composite plugs along with casing equipment, float equipment, inflatables, liner hangers and stage cementing tools. On March 8, 2023, KLXE acquired all of the equity interests of Greene’s Energy Group, LLC (“Greene’s”), including $1.7 in cash, in an all-stock transaction. Greene’s is a leading provider of wellhead protection, flowback and well testing services. The acquisition of Greene’s, which is expected to be accretive to KLX in 2023, augments the KLX frac rental and flowback offering, providing KLX with a broader presence in the Permian and Eagle Ford basins. See Note 2 - Business Combinations. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All adjustments which, in the opinion of the Company’s management, are considered necessary for a fair presentation of the results of operations for the periods shown are of a normal recurring nature and have been reflected in the condensed consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full year 2023 or for any future period. The information included in these condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements and accompanying notes included in the Company’s 2022 Annual Report on Form 10-K filed with the SEC on March 9, 2023. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and related disclosures. Actual results could differ from those estimates.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business CombinationsOn March 8, 2023, KLXE acquired all of the equity interests of Greene’s, including $1.7 in cash, in an all-stock transaction. The total consideration for the acquisition consisted of the issuance of approximately 2.4 million shares of KLXE common stock, par value $0.01 per share (the “Common Stock”), subject to customary post-closing adjustments, with an implied enterprise value of approximately $30.3 based on a 30-day volume weighted average price as of March 7, 2023 and less acquired cash. Following the closing of the transaction, former shareholders of Greene’s hold approximately 14.7% of the fully diluted Common Stock of the Company, as of March 8, 2023. As of the date of this filing, the integration is substantially complete, and the Company expects $2.0 to $3.0 in cost synergies. This transaction was accounted for as a purchase under Financial Accounting Standards Board Accounting Standards Codification Topic 805, Business Combinations (“ASC 805”). The results of operations for the acquisition are included in the accompanying condensed consolidated statements of operations from the respective date of acquisition. Under the acquisition method of accounting, we allocate the fair value of purchase consideration transferred to the tangible assets and intangible assets acquired, if any, and liabilities assumed based on their estimated fair values on the date of the acquisition. The fair values assigned, defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants, are based on estimates and assumptions determined by management. The estimated fair value of the assets acquired, net of liabilities assumed, exceeds the purchase consideration, resulting in a bargain purchase gain. This has been presented as a separate line item on the consolidated statements of operations for the three and six months ended June 30, 2023. The fair values assigned to certain assets acquired and liabilities assumed in relation to the Company’s acquisition have been prepared on a preliminary basis with information currently available and are subject to change. The Company expects to finalize its analysis by the first quarter of 2024. The following table summarizes the fair values of assets acquired and liabilities assumed in the acquisition in accordance with ASC 805: Greene's Cash (1) $ 1.1 Accounts receivable-trade 17.1 Other current and non-current assets 0.2 Property and equipment 23.1 Accounts payable (3.2) Accrued liabilities (1.1) Other current and non-current liabilities (1.2) Bargain purchase (2.0) Total purchase price (1) $ 34.0 (1) Net of working capital adjustment of $0.6 (2) The total consideration of the acquisition was approximately $34.0, which was comprised of 2.4 million shares of the Company's Common Stock. Unaudited Supplemental Pro Forma Information The unaudited supplemental pro forma financial information has been provided for illustrative purposes only and does not purport to be indicative of the actual results that would have been achieved by combining the companies for the periods presented, or of the results that may be achieved by the combined companies in the future. Further, actual results may vary significantly from the results reflected in the following unaudited supplemental pro forma financial information because of future events and transactions, as well as other factors. The unaudited supplemental pro forma financial information does not include adjustments to reflect the impact of other cost savings or synergies that may result from the acquisition. On a pro forma basis to give effect to the acquisition, as if it occurred on January 1, 2022, revenues and net income (loss) for the three and six months ended June 30, 2023 and 2022 would have been as follows: Unaudited Pro Forma Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Revenues $ 234.0 $ 201.4 $ 485.9 $ 368.8 Net income (loss) 11.4 (5.8) 20.8 (24.5)

Inventories, Net

Inventories, Net	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories consisted of the following: June 30, 2023 December 31, 2022 Spare parts $ 21.8 $ 17.9 Plugs 7.3 6.3 Consumables 3.8 3.2 Other 2.2 2.7 Subtotal 35.1 30.1 Less: Inventory reserve (4.1) (4.4) Total inventories, net $ 31.0 $ 25.7 Inventories are made up of spare parts, composite and dissolvable plugs, consumables (including thru-tubing accessory tools, chemicals and cement) and other (including fluid ends) used to perform services for customers. The Company values inventories at the lower of cost or net realizable value. Inventories are reported net of inventory reserve of $4.1 and $4.4 as of June 30, 2023 and December 31, 2022, respectively.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment consisted of the following: Useful Life (Years) June 30, 2023 December 31, 2022 Land, buildings and improvements 1 — 40 $ 35.9 $ 33.1 Machinery 1 — 20 236.0 216.2 Equipment and furniture 1 — 15 218.9 194.5 ROU assets - finance leases 1 — 20 53.2 39.9 Total property and equipment 544.0 483.7 Less: Accumulated depreciation (351.9) (320.8) Add: Construction in progress 6.9 5.2 Total property and equipment, net $ 199.0 $ 168.1 Depreciation expense related to non-leased fixed assets was $14.1 and $12.4 for the three months ended June 30, 2023 and 2022, respectively, and $27.5 and $24.5 for the six months ended June 30, 2023 and 2022, respectively. Finance lease amortization expense was $3.4 and $1.6 for the three months ended June 30, 2023 and 2022, respectively, and $6.5 and $3.1 for the six months ended June 30, 2023 and 2022, respectively. Assets Held for Sale As of June 30, 2023, the Company’s condensed consolidated balance sheet included assets classified as held for sale of $2.3. The assets held for sale are reported within prepaid expenses and other current assets on the condensed consolidated balance sheet and represent the value of one operational facility and select

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Outstanding long-term debt consisted of the following: June 30, 2023 December 31, 2022 Senior Secured Notes $ 237.3 $ 237.3 ABL Facility 50.0 50.0 Total principal outstanding 287.3 287.3 Less: Unamortized debt issuance costs 3.5 3.9 Total debt $ 283.8 $ 283.4 As of June 30, 2023, long-term debt consisted of $237.3 principal amount of 11.5% senior secured notes due 2025 (the “Senior Secured Notes”) offered pursuant to Rule 144A under the Securities Act of 1933 (as amended, the “Securities Act”) and to certain non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. On a net basis, after taking into consideration unamortized debt issuance costs for the Senior Secured Notes, total debt related to the Senior Secured Notes as of June 30, 2023 was $233.8. The Senior Secured Notes bear interest at an annual rate of 11.5%, payable semi-annually in arrears on May 1 and November 1. Accrued interest related to the Senior Secured Notes was $4.5 as of June 30, 2023. On June 20, 2023, the Company entered into a Fourth Amendment to the ABL Facility, with certain of its subsidiaries party thereto, as guarantors, with JPMorgan Chase Bank, N.A., as administrative agent, collateral agent and an issuing lender, and the other lenders and issuing lenders party thereto from time to time (the “ABL Amendment”). The ABL Amendment, among other things, (i) extends the maturity date of the ABL Facility from September 15, 2024 to the earlier of (A) September 15, 2025 or (B) August 1, 2025, if the Company's Senior Secured Notes are still outstanding as of such date (the earlier of the foregoing item (A) or item (B), the “ABL Maturity Date”) and (ii) increases the revolving credit commitment from $100.0 to $120.0. As of June 30, 2023, the Company had a $120.0 asset-based revolving credit facility pursuant to a senior secured credit agreement dated August 10, 2018, as amended by the ABL Amendment (as defined below) and other amendments (the “ABL Facility”). The ABL Facility matures on the ABL Maturity Date (as defined below). The ABL Facility is tied to a borrowing base formula and has no maintenance financial covenants as long as the minimum level of borrowing availability is maintained. The ABL Facility is secured by, among other things, a first priority lien on the Company’s accounts receivable and inventory and contains customary conditions precedent to borrowing and affirmative and negative covenants. The ABL Facility includes a springing financial covenant which requires the Company’s consolidated fixed charge coverage ratio (“FCCR”) to be at least 1.0 to 1.0 if availability falls below the greater of $15.0 or 20.0% of the line cap. At all times during the three months ended June 30, 2023, availability exceeded this threshold, and the Company was not subject to this financial covenant. As of June 30, 2023, the FCCR was above 1.0 to 1.0, and the Company was in full compliance with its ABL Facility. Borrowings outstanding under the ABL Facility were $50.0 as of June 30, 2023 and bear interest at a rate equal to SOFR plus the applicable margin (as defined in the ABL Facility). The effective interest rate under the ABL Facility was approximately 7.7% on June 30, 2023. Total letters of credit outstanding under the ABL Facility were $5.6 both at June 30, 2023 and at December 31, 2022. Accrued interest under the ABL Facility was $0.1 as of June 30, 2023.

Fair Value Information

Fair Value Information	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Information	Fair Value Information All financial instruments are carried at amounts that approximate estimated fair value. The fair value is the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. Assets measured at fair value are categorized based upon the lowest level of significant input to the valuations. Level 1 – quoted prices in active markets for identical assets and liabilities. Level 2 – quoted prices for identical assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical assets and liabilities. Level 3 – unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions. The carrying amounts of cash and cash equivalents, accounts receivable-trade and accounts payable represent their respective fair values due to their short-term nature. There was $50.0 debt outstanding under the ABL Facility as of June 30, 2023. The fair value of the ABL Facility approximates its carrying value as of June 30, 2023. The following tables present the placement in the fair value hierarchy of the Senior Secured Notes, based on market prices for publicly traded debt, as of June 30, 2023 and December 31, 2022: Fair value measurements at reporting date using June 30, 2023 Level 1 Level 2 Level 3 Senior Secured Notes, 11.5 Percent Due 2025 $ 219.5 $ — $ 219.5 $ — Total Senior Secured Notes $ 219.5 $ — $ 219.5 $ — Fair value measurements at reporting date using December 31, 2022 Level 1 Level 2 Level 3 Senior Secured Notes, 11.5 Percent Due 2025 $ 213.5 $ — $ 213.5 $ — Total Senior Secured Notes $ 213.5 $ — $ 213.5 $ — The following tables present the placement in the fair value hierarchy of Assets Held for Sale, as disclosed in Note 4, based on sales contracts and comparative price quotes, as of June 30, 2023 and December 31, 2022: Fair value measurements at reporting date using June 30, 2023 Level 1 Level 2 Level 3 Assets Held for Sale $ 2.3 $ — $ 2.3 $ — Total Assets Held for Sale $ 2.3 $ — $ 2.3 $ — Fair value measurements at reporting date using December 31, 2022 Level 1 Level 2 Level 3 Assets Held for Sale $ 2.3 $ — $ 2.3 $ — Total Assets Held for Sale $ 2.3 $ — $ 2.3 $ — During the three and six months ended June 30, 2023, there was no before-tax loss (gain) related to Assets Held for Sale. During the three and six months ended June 30, 2022, the before-tax loss (gain) related to Assets Held for Sale was both $(0.4).

Commitments, Contingencies and

Commitments, Contingencies and Off-Balance Sheet Arrangements	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Off-Balance-Sheet Arrangements	Commitments, Contingencies and Off-Balance-Sheet Arrangements Environmental Regulations & Liabilities The Company is subject to various federal, state and local environmental laws and regulations that establish standards and requirements for the protection of the environment. The Company continues to monitor the status of these laws and regulations. However, the Company cannot predict the future impact of such laws and regulations, as well as standards and requirements, on our business, which are subject to change and can have retroactive effectiveness. Currently, the Company has not been fined, cited or notified of any environmental violations or liabilities that would have a material adverse effect on its condensed consolidated financial statement position, results of operations, liquidity or capital resources. However, management does recognize that by the very nature of its business, material costs could be incurred in the future to maintain compliance. The amount of such future expenditures is not determinable due to several factors, including the unknown magnitude of possible regulation or liabilities, the unknown timing and extent of the corrective actions that may be required, the determination of the Company’s liability in proportion to other responsible parties and the extent to which such expenditures are recoverable from insurance or indemnification. Litigation The Company is at times either a plaintiff or a defendant in various legal actions arising in the normal course of business, the outcomes of which, in the opinion of management, neither individually nor in the aggregate are likely to result in a material adverse effect on the Company’s condensed consolidated financial statements. Indemnities, Commitments and Guarantees During its ordinary course of business, the Company has made certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. These indemnities include indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease, as well as indemnities to other parties to certain acquisition agreements. The duration of these indemnities, commitments and guarantees varies and, in certain cases, is indefinite. Many of these indemnities, commitments and guarantees provide for limitations on the maximum potential future payments the Company could be obligated to make. However, the Company is unable to estimate the maximum amount of liability related to its indemnities, commitments and guarantees because such liabilities are contingent upon the occurrence of events that are not reasonably determinable. Management believes that any liability for these indemnities, commitments and guarantees would not be material to the accompanying condensed consolidated financial statements. Accordingly, no significant amounts have been accrued for indemnities, commitments and guarantees.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stockholders' Equity (Deficit)	Stockholders' Equity (Deficit) Equity Distribution Agreement On June 14, 2021, the Company entered into an Equity Distribution Agreement (the “Equity Distribution Agreement”) with Piper Sandler & Co. as sales agent (the “Agent”). Pursuant to the terms of the Equity Distribution Agreement, the Company may sell from time to time through the Agent (the “ATM Offering”) the Company’s Common Stock, par value $0.01 per share, having an aggregate offering price of up to $50.0. On November 16, 2022, the Company entered into Amendment No. 1 to the Equity Distribution Agreement (the “EDA Amendment”). Among other things, the EDA Amendment allows for debt-for-equity exchanges in accordance with Section 3(a)(9) of the Securities Act. Any Common Stock offered and sold in the ATM Offering may be issued pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-256149) filed with the SEC on May 14, 2021 and declared effective on June 11, 2021 (the “Registration Statement”), the prospectus supplement relating to the ATM Offering filed with the SEC on June 14, 2021 and any applicable additional prospectus supplements related to the ATM Offering that form a part of the Registration Statement. Sales of Common Stock under the Equity Distribution Agreement may be made in any transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act. The Equity Distribution Agreement contains customary representations, warranties and agreements by the Company, indemnification obligations of the Company and the Agent, including for liabilities under the Securities Act, other obligations of the parties and termination provisions. Under the terms of the Equity Distribution Agreement, the Company will pay the Agent a commission equal to 3.0% of the gross sales price of the Common Stock sold. The Company plans to use the net proceeds from the ATM Offering, after deducting the Agent’s commissions and the Company’s offering expenses, for general corporate purposes, which may include, among other things, paying or refinancing all or a portion of the Company’s then-outstanding indebtedness, and funding acquisitions, capital expenditures and working capital. During the three and six months ended June 30, 2023, the Company did not sell any shares of Common Stock and incurred legal and administrative fees of $— and $0.1, respectively. During the three and six months ended June 30, 2022, the Company sold 889,271 and 1,584,648 shares of Common Stock, respectively, in exchange for gross proceeds of approximately $4.7 and $8.4, respectively, and incurred legal and administrative fees of $0.1 and $0.1, respectively. Stock-Based Compensation The Company has a Long-Term Incentive Plan (“LTIP”) under which the compensation committee of the Board of Directors (the “Board”) of the Company (the “Compensation Committee”) has the authority to grant stock options, stock appreciation rights, restricted stock, restricted stock units or other forms of equity-based or equity-related awards. Compensation cost for the LTIP grants is generally recorded on a straight-line basis over the vesting term of the shares based on the grant date value using the closing trading price. On May 10, 2023, the stockholders of KLXE approved the Second Amended and Restated KLX Energy Services Holdings, Inc. Long-Term Incentive Plan (Amended and Restated as of March 8, 2023) (the “Amended and Restated LTIP”), which, among other things, increased the total number of shares of Company Common Stock, par value $0.01 per share, for issuance by 1,200,000 shares, resulting in an increase of the total number of shares of our common stock reserved for issuance to 1,256,289, and extended the expiration date to March 8, 2033. A description of the Amended and Restated LTIP is included in the Company’s proxy statement, filed with the SEC on March 28, 2023. Compensation cost recognized during the three and six months ended June 30, 2023 and June 30, 2022 was related to grants of restricted stock as approved by the Compensation Committee. Stock-based compensation

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax benefit was $0.3 and $0.1 for the three and six months ended June 30, 2023, respectively, and was comprised primarily of state and local taxes, offset by a deferred tax benefit recognized from a reduction in the valuation allowance related to the Greene's acquisition. Comparatively, income tax expense was $0.2 and $0.3 for the three and six months ended June 30, 2022, respectively, and was comprised primarily of state and local taxes. The Company continues to have a valuation allowance against its deferred tax balances and, as a result, it was unable to recognize any tax expense on its year-to-date income. The Company continues to monitor additional guidance issued by the U.S. Treasury Department, the Internal Revenue Service and others.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment ReportingThe Company is organized on a geographic basis. The Company’s reportable segments, which are also its operating segments, are comprised of the Rocky Mountains Region (the Bakken, Williston, DJ, Uinta, Powder River, Piceance and Niobrara basins), the Southwest Region (the Permian Basin and the Eagle Ford Shale) and the Northeast/Mid-Con Region (the Marcellus and Utica Shale as well as the Mid-Continent STACK and SCOOP and Haynesville Shale). The segments regularly report their results of operations and make requests for capital expenditures and acquisition funding to the Company's chief operational decision-making group. As a result, the Company has three reportable segments. The following table presents revenues and operating income (loss) by reportable segment: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Revenues Rocky Mountains $ 66.4 $ 53.1 $ 134.3 $ 96.4 Southwest 86.3 60.0 159.7 111.9 Northeast/Mid-Con 81.3 71.3 179.6 128.4 Total revenues 234.0 184.4 473.6 336.7 Operating income (loss) Rocky Mountains 11.9 4.0 21.7 3.2 Southwest 8.1 2.0 12.9 1.6 Northeast/Mid-Con 12.6 7.3 31.3 6.5 Corporate and other (13.0) (11.9) (27.4) (21.4) Total operating income (loss) 19.6 1.4 38.5 (10.1) Interest expense, net 8.5 8.7 17.8 17.0 Net income (loss) before income tax $ 11.1 $ (7.3) $ 20.7 $ (27.1) The following table presents revenues by service offering by reportable segment: Three Months Ended June 30, 2023 June 30, 2022 Rocky Southwest Northeast Total Rocky Southwest Northeast Total Drilling $ 6.1 $ 27.3 $ 24.4 $ 57.8 $ 6.7 $ 27.8 $ 17.5 $ 52.0 Completion 38.6 41.6 45.2 125.4 27.2 20.8 43.8 91.8 Production 15.3 8.6 4.7 28.6 11.9 6.0 4.1 22.0 Intervention 6.4 8.8 7.0 22.2 7.3 5.4 5.9 18.6 Total revenues $ 66.4 $ 86.3 $ 81.3 $ 234.0 $ 53.1 $ 60.0 $ 71.3 $ 184.4 Six Months Ended June 30, 2023 June 30, 2022 Rocky Southwest Northeast Total Rocky Southwest Northeast Total Drilling $ 15.7 $ 53.4 $ 49.6 $ 118.7 $ 10.4 $ 51.4 $ 33.1 $ 94.9 Completion 76.0 72.9 106.5 255.4 52.7 38.3 77.7 168.7 Production 29.9 16.6 9.9 56.4 20.9 11.7 7.3 39.9 Intervention 12.7 16.8 13.6 43.1 12.4 10.5 10.3 33.2 Total revenues $ 134.3 $ 159.7 $ 179.6 $ 473.6 $ 96.4 $ 111.9 $ 128.4 $ 336.7 The following table presents capital expenditures by reportable segment: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Rocky Mountains $ 4.5 $ 1.7 $ 6.1 $ 3.3 Southwest 4.2 2.3 7.3 3.9 Northeast/Mid-Con 7.5 3.8 13.1 6.4 Corporate and other — — — — Total capital expenditures $ 16.2 $ 7.8 $ 26.5 $ 13.6 The following table presents total assets by segment: June 30, 2023 December 31, 2022 Rocky Mountains $ 143.0 $ 133.0 Southwest 187.9 152.2 Northeast/Mid-Con 113.5 123.3 Total 444.4 408.5 Corporate and other 82.1 57.4 Total assets $ 526.5 $ 465.9

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share Basic net income (loss) per common share is computed using the weighted average common shares outstanding during the period. Diluted net income (loss) per common share is computed by using the weighted average common shares outstanding, including the dilutive effect of restricted shares based on an average share price during the period. For the three months ended June 30, 2023 and 2022, 0.4 and 0.4 million shares of the Company’s Common Stock, respectively, and for the six months ended June 30, 2023 and 2022, 0.0 and 0.4 million shares of the Company’s Common Stock, respectively, were excluded from the determination of diluted net income (loss) per common share because their effect would have been anti-dilutive. The computations of basic and diluted net income (loss) per share for the three and six months ended June 30, 2023 and 2022 are as follows: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Net income (loss) $ 11.4 $ (7.5) $ 20.8 $ (27.4) (Shares in millions) Basic weighted average common shares 16.0 11.2 15.1 10.7 Effect of dilutive securities - dilutive securities 0.1 — 0.1 — Diluted weighted average common shares 16.1 11.2 15.2 10.7 Basic net income (loss) per common share $ 0.71 $ (0.67) $ 1.38 $ (2.58) Diluted net income (loss) per common share $ 0.71 $ (0.67) $ 1.37 $ (2.58)

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. All adjustments which, in the opinion of the Company’s management, are considered necessary for a fair presentation of the results of operations for the periods shown are of a normal recurring nature and have been reflected in the condensed consolidated financial statements. The results of operations for the periods presented are not necessarily indicative of the results expected for the full year 2023 or for any future period. The information included in these condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements and accompanying notes included in the Company’s 2022 Annual Report on Form 10-K filed with the SEC on March 9, 2023. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and related disclosures. Actual results could differ from those estimates.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of assets acquired and liabilities assumed in the acquisition in accordance with ASC 805: Greene's Cash (1) $ 1.1 Accounts receivable-trade 17.1 Other current and non-current assets 0.2 Property and equipment 23.1 Accounts payable (3.2) Accrued liabilities (1.1) Other current and non-current liabilities (1.2) Bargain purchase (2.0) Total purchase price (1) $ 34.0 (1) Net of working capital adjustment of $0.6 (2) The total consideration of the acquisition was approximately $34.0, which was comprised of 2.4 million shares of the Company's Common Stock.
Business Acquisition, Pro Forma Information	On a pro forma basis to give effect to the acquisition, as if it occurred on January 1, 2022, revenues and net income (loss) for the three and six months ended June 30, 2023 and 2022 would have been as follows: Unaudited Pro Forma Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Revenues $ 234.0 $ 201.4 $ 485.9 $ 368.8 Net income (loss) 11.4 (5.8) 20.8 (24.5)

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following: June 30, 2023 December 31, 2022 Spare parts $ 21.8 $ 17.9 Plugs 7.3 6.3 Consumables 3.8 3.2 Other 2.2 2.7 Subtotal 35.1 30.1 Less: Inventory reserve (4.1) (4.4) Total inventories, net $ 31.0 $ 25.7

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: Useful Life (Years) June 30, 2023 December 31, 2022 Land, buildings and improvements 1 — 40 $ 35.9 $ 33.1 Machinery 1 — 20 236.0 216.2 Equipment and furniture 1 — 15 218.9 194.5 ROU assets - finance leases 1 — 20 53.2 39.9 Total property and equipment 544.0 483.7 Less: Accumulated depreciation (351.9) (320.8) Add: Construction in progress 6.9 5.2 Total property and equipment, net $ 199.0 $ 168.1

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Outstanding	Outstanding long-term debt consisted of the following: June 30, 2023 December 31, 2022 Senior Secured Notes $ 237.3 $ 237.3 ABL Facility 50.0 50.0 Total principal outstanding 287.3 287.3 Less: Unamortized debt issuance costs 3.5 3.9 Total debt $ 283.8 $ 283.4

Fair Value Information (Tables)

Fair Value Information (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy Based on Market Prices for Publicly Traded Debt	The following tables present the placement in the fair value hierarchy of the Senior Secured Notes, based on market prices for publicly traded debt, as of June 30, 2023 and December 31, 2022: Fair value measurements at reporting date using June 30, 2023 Level 1 Level 2 Level 3 Senior Secured Notes, 11.5 Percent Due 2025 $ 219.5 $ — $ 219.5 $ — Total Senior Secured Notes $ 219.5 $ — $ 219.5 $ — Fair value measurements at reporting date using December 31, 2022 Level 1 Level 2 Level 3 Senior Secured Notes, 11.5 Percent Due 2025 $ 213.5 $ — $ 213.5 $ — Total Senior Secured Notes $ 213.5 $ — $ 213.5 $ — The following tables present the placement in the fair value hierarchy of Assets Held for Sale, as disclosed in Note 4, based on sales contracts and comparative price quotes, as of June 30, 2023 and December 31, 2022: Fair value measurements at reporting date using June 30, 2023 Level 1 Level 2 Level 3 Assets Held for Sale $ 2.3 $ — $ 2.3 $ — Total Assets Held for Sale $ 2.3 $ — $ 2.3 $ — Fair value measurements at reporting date using December 31, 2022 Level 1 Level 2 Level 3 Assets Held for Sale $ 2.3 $ — $ 2.3 $ — Total Assets Held for Sale $ 2.3 $ — $ 2.3 $ —

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Revenues and Operating Income (Loss) by Reportable Segment	The following table presents revenues and operating income (loss) by reportable segment: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Revenues Rocky Mountains $ 66.4 $ 53.1 $ 134.3 $ 96.4 Southwest 86.3 60.0 159.7 111.9 Northeast/Mid-Con 81.3 71.3 179.6 128.4 Total revenues 234.0 184.4 473.6 336.7 Operating income (loss) Rocky Mountains 11.9 4.0 21.7 3.2 Southwest 8.1 2.0 12.9 1.6 Northeast/Mid-Con 12.6 7.3 31.3 6.5 Corporate and other (13.0) (11.9) (27.4) (21.4) Total operating income (loss) 19.6 1.4 38.5 (10.1) Interest expense, net 8.5 8.7 17.8 17.0 Net income (loss) before income tax $ 11.1 $ (7.3) $ 20.7 $ (27.1)
Schedule of Revenues by Service Offering by Reportable Segment	The following table presents revenues by service offering by reportable segment: Three Months Ended June 30, 2023 June 30, 2022 Rocky Southwest Northeast Total Rocky Southwest Northeast Total Drilling $ 6.1 $ 27.3 $ 24.4 $ 57.8 $ 6.7 $ 27.8 $ 17.5 $ 52.0 Completion 38.6 41.6 45.2 125.4 27.2 20.8 43.8 91.8 Production 15.3 8.6 4.7 28.6 11.9 6.0 4.1 22.0 Intervention 6.4 8.8 7.0 22.2 7.3 5.4 5.9 18.6 Total revenues $ 66.4 $ 86.3 $ 81.3 $ 234.0 $ 53.1 $ 60.0 $ 71.3 $ 184.4 Six Months Ended June 30, 2023 June 30, 2022 Rocky Southwest Northeast Total Rocky Southwest Northeast Total Drilling $ 15.7 $ 53.4 $ 49.6 $ 118.7 $ 10.4 $ 51.4 $ 33.1 $ 94.9 Completion 76.0 72.9 106.5 255.4 52.7 38.3 77.7 168.7 Production 29.9 16.6 9.9 56.4 20.9 11.7 7.3 39.9 Intervention 12.7 16.8 13.6 43.1 12.4 10.5 10.3 33.2 Total revenues $ 134.3 $ 159.7 $ 179.6 $ 473.6 $ 96.4 $ 111.9 $ 128.4 $ 336.7
Schedule of Capital Expenditures by Reportable Segment	The following table presents capital expenditures by reportable segment: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Rocky Mountains $ 4.5 $ 1.7 $ 6.1 $ 3.3 Southwest 4.2 2.3 7.3 3.9 Northeast/Mid-Con 7.5 3.8 13.1 6.4 Corporate and other — — — — Total capital expenditures $ 16.2 $ 7.8 $ 26.5 $ 13.6
Schedule of Total Assets by Reportable Segment	The following table presents total assets by segment: June 30, 2023 December 31, 2022 Rocky Mountains $ 143.0 $ 133.0 Southwest 187.9 152.2 Northeast/Mid-Con 113.5 123.3 Total 444.4 408.5 Corporate and other 82.1 57.4 Total assets $ 526.5 $ 465.9

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share	The computations of basic and diluted net income (loss) per share for the three and six months ended June 30, 2023 and 2022 are as follows: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Net income (loss) $ 11.4 $ (7.5) $ 20.8 $ (27.4) (Shares in millions) Basic weighted average common shares 16.0 11.2 15.1 10.7 Effect of dilutive securities - dilutive securities 0.1 — 0.1 — Diluted weighted average common shares 16.1 11.2 15.2 10.7 Basic net income (loss) per common share $ 0.71 $ (0.67) $ 1.38 $ (2.58) Diluted net income (loss) per common share $ 0.71 $ (0.67) $ 1.37 $ (2.58)

Description of Business and B_3

Description of Business and Basis of Presentation (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 facility	Mar. 08, 2023 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of service facilities | facility	60
Greene's Energy Group, LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash | $		$ 1.7

Business Combinations - Additio

Business Combinations - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Mar. 08, 2023	Jun. 30, 2023	May 10, 2023	Mar. 07, 2023	Dec. 31, 2022
Business Combinations
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01		$ 0.01
Greene's Energy Group, LLC
Business Combinations
Cash	$ 1.7
Number of shares in acquisition (in shares)	2.4
Common stock, par value (in dollars per share)	$ 0.01
Equity value				$ 30.3
Fully diluted common stock	14.70%
Greene's Energy Group, LLC | Minimum
Business Combinations
Expected cost synergies		$ 2
Greene's Energy Group, LLC | Maximum
Business Combinations
Expected cost synergies		$ 3

Business Combinations - Schedul

Business Combinations - Schedule of Fair Values of Assets Acquired and Liabilities Assumed (Details) - Greene's Energy Group, LLC shares in Millions, $ in Millions	Mar. 08, 2023 USD ($) shares
Business Combinations
Cash	$ 1.1
Accounts receivable-trade	17.1
Other current and non-current assets	0.2
Property and equipment	23.1
Accounts payable	(3.2)
Accrued liabilities	(1.1)
Other current and non-current liabilities	(1.2)
Bargain purchase	(2)
Total purchase price	34
Net working capital adjustment	0.6
Total consideration	$ 34
Number of shares in acquisition (in shares) | shares	2.4

Business Combinations - Pro For

Business Combinations - Pro Forma Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Business Combinations
Revenues				$ 368.8
Greene's Energy Group, LLC
Business Combinations
Revenues	$ 234	$ 201.4	$ 485.9
Net income (loss)	$ 11.4	$ (5.8)	$ 20.8	$ (24.5)

Inventories, Net - Inventory (D

Inventories, Net - Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Spare parts	$ 21.8	$ 17.9
Plugs	7.3	6.3
Consumables	3.8	3.2
Other	2.2	2.7
Subtotal	35.1	30.1
Less: Inventory reserve	(4.1)	(4.4)
Total inventories, net	$ 31	$ 25.7

Inventories, Net - Additional I

Inventories, Net - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory reserve	$ 4.1	$ 4.4

Property and Equipment, Net - P

Property and Equipment, Net - Property and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
ROU assets - finance leases	$ 53.2	$ 39.9
Less: Accumulated depreciation	(351.9)	(320.8)
Total property and equipment, net	199	168.1
Depreciable Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	544	483.7
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 35.9	33.1
Land, buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Land, buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	40 years
Machinery
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 236	216.2
Machinery | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Machinery | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	20 years
Equipment and furniture
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 218.9	194.5
Equipment and furniture | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
Equipment and furniture | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	15 years
ROU assets - finance leases | Minimum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	1 year
ROU assets - finance leases | Maximum
Property, Plant and Equipment [Line Items]
Useful Life (Years)	20 years
Add: Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 6.9	$ 5.2

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) facility	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) facility	Jun. 30, 2022 USD ($)
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 14.1	$ 12.4	$ 27.5	$ 24.5
Amortization of ROU assets	3.4	$ 1.6	6.5	$ 3.1
Asset held for sale	$ 2.3		$ 2.3
Number of operational facilities | facility	1		1

Long-Term Debt - Long-term Debt

Long-Term Debt - Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long term debt, gross	$ 287.3	$ 287.3
Less: Unamortized debt issuance costs	3.5	3.9
Total debt	283.8	283.4
Senior Secured Notes
Debt Instrument [Line Items]
Long term debt, gross	237.3	237.3
Total debt	233.8
ABL Facility
Debt Instrument [Line Items]
Long term debt, gross	$ 50	$ 50

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)	Jun. 30, 2023	Jun. 20, 2023	Jun. 19, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long term debt outstanding	$ 283,800,000			$ 283,400,000
Accrued interest	4,700,000			4,800,000
Asset Based Revolving Line of Credit
Debt Instrument [Line Items]
Outstanding letter of credit amount	5,600,000			$ 5,600,000
Senior Secured Notes
Debt Instrument [Line Items]
Principle amount	$ 237,300,000
Debt instrument, stated interest rate (as a percent)	11.50%			11.50%
Long term debt outstanding	$ 233,800,000
Accrued interest	$ 4,500,000
ABL Facility
Debt Instrument [Line Items]
Debt instrument, stated interest rate (as a percent)	7.70%
Accrued interest	$ 100,000
ABL Facility | Asset Based Revolving Line of Credit
Debt Instrument [Line Items]
Revolving credit facility	$ 120,000,000	$ 120,000,000	$ 100,000,000
Fixed charge coverage ratio	1
Liquidity threshold amount	$ 15,000,000
Liquidity threshold, percent of borrowing base	20%
Amount outstanding	$ 50,000,000
Current borrowing capacity	$ 61,600,000

Fair Value Information - Additi

Fair Value Information - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loss (gain) on disposition of assets	$ 0	$ (400,000)	$ 0	$ (400,000)
Asset Based Revolving Line of Credit | ABL Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount outstanding	$ 50,000,000		$ 50,000,000

Fair Value Information - Senior

Fair Value Information - Senior Secured Notes and Assets Held for Sale (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 219.5	$ 213.5
Assets Held for Sale	2.3	2.3
Level 1 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	0	0
Assets Held for Sale	0	0
Level 2 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	219.5	213.5
Assets Held for Sale	2.3	2.3
Level 3 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	0	0
Assets Held for Sale	$ 0	$ 0
Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, stated interest rate (as a percent)	11.50%	11.50%
Senior Secured Notes | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 219.5	$ 213.5
Senior Secured Notes | Level 1 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	0	0
Senior Secured Notes | Level 2 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	219.5	213.5
Senior Secured Notes | Level 3 | Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior secured notes, fair value	$ 0	$ 0

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Details) - USD ($)			3 Months Ended		6 Months Ended
	May 10, 2023	Jun. 14, 2021	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01		$ 0.01		$ 0.01
Common stock, increase (decrease) in capital	1,200,000
Shares reserved for issuance (in shares)	1,256,289
Share based compensation expense, net			$ 800,000	$ 800,000	$ 1,500,000	$ 1,500,000
Unrecognized compensation cost			$ 5,000,000		$ 5,000,000		$ 4,200,000
At The Market Offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)		$ 0.01
Maximum consideration on transaction		$ 50,000,000
Commission fee		3%
Number of shares issued in transaction (in shares)			0	889,271	0	1,584,648
Payments of stock issuance costs			$ 0	$ 100,000	$ 100,000	$ 100,000
Consideration received on transaction				$ 4,700,000		$ 8,400,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (0.3)	$ 0.2	$ (0.1)	$ 0.3

Segment Reporting - Revenues an

Segment Reporting - Revenues and Operating Income (Loss) by Reportable Segment (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments | segment			3
Revenues	$ 234	$ 184.4	$ 473.6	$ 336.7
Operating income (loss)	19.6	1.4	38.5	(10.1)
Interest expense, net	8.5	8.7	17.8	17
Net income (loss) before income tax	11.1	(7.3)	20.7	(27.1)
Corporate and other
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Operating income (loss)	(13)	(11.9)	(27.4)	(21.4)
Rocky Mountains
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	66.4	53.1	134.3	96.4
Rocky Mountains | Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Operating income (loss)	11.9	4	21.7	3.2
Southwest
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	86.3	60	159.7	111.9
Southwest | Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Operating income (loss)	8.1	2	12.9	1.6
Northeast/Mid-Con
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Revenues	81.3	71.3	179.6	128.4
Northeast/Mid-Con | Operating Segments
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Operating income (loss)	$ 12.6	$ 7.3	$ 31.3	$ 6.5

Segment Reporting - Revenues by

Segment Reporting - Revenues by Service Offering by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 234	$ 184.4	$ 473.6	$ 336.7
Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	66.4	53.1	134.3	96.4
Southwest
Segment Reporting Information [Line Items]
Revenues	86.3	60	159.7	111.9
Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	81.3	71.3	179.6	128.4
Drilling
Segment Reporting Information [Line Items]
Revenues	57.8	52	118.7	94.9
Drilling | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	6.1	6.7	15.7	10.4
Drilling | Southwest
Segment Reporting Information [Line Items]
Revenues	27.3	27.8	53.4	51.4
Drilling | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	24.4	17.5	49.6	33.1
Completion
Segment Reporting Information [Line Items]
Revenues	125.4	91.8	255.4	168.7
Completion | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	38.6	27.2	76	52.7
Completion | Southwest
Segment Reporting Information [Line Items]
Revenues	41.6	20.8	72.9	38.3
Completion | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	45.2	43.8	106.5	77.7
Production
Segment Reporting Information [Line Items]
Revenues	28.6	22	56.4	39.9
Production | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	15.3	11.9	29.9	20.9
Production | Southwest
Segment Reporting Information [Line Items]
Revenues	8.6	6	16.6	11.7
Production | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	4.7	4.1	9.9	7.3
Intervention
Segment Reporting Information [Line Items]
Revenues	22.2	18.6	43.1	33.2
Intervention | Rocky Mountains
Segment Reporting Information [Line Items]
Revenues	6.4	7.3	12.7	12.4
Intervention | Southwest
Segment Reporting Information [Line Items]
Revenues	8.8	5.4	16.8	10.5
Intervention | Northeast /Mid-Con
Segment Reporting Information [Line Items]
Revenues	$ 7	$ 5.9	$ 13.6	$ 10.3

Segment Reporting - Capital Exp

Segment Reporting - Capital Expenditures by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Capital expenditures	$ 16.2	$ 7.8	$ 26.5	$ 13.6
Corporate and other
Property, Plant and Equipment [Line Items]
Capital expenditures	0	0	0	0
Rocky Mountains | Operating Segments
Property, Plant and Equipment [Line Items]
Capital expenditures	4.5	1.7	6.1	3.3
Southwest | Operating Segments
Property, Plant and Equipment [Line Items]
Capital expenditures	4.2	2.3	7.3	3.9
Northeast/Mid-Con | Operating Segments
Property, Plant and Equipment [Line Items]
Capital expenditures	$ 7.5	$ 3.8	$ 13.1	$ 6.4

Segment Reporting - Total Asset

Segment Reporting - Total Assets by Reportable Segment (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 526.5	$ 465.9
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	444.4	408.5
Corporate and other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	82.1	57.4
Rocky Mountains | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	143	133
Southwest | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	187.9	152.2
Northeast/Mid-Con | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 113.5	$ 123.3

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restricted Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from determination of diluted net income (loss) per common share (in shares)	0.4	0.4	0	0.4

Net Income (Loss) Per Common _4

Net Income (Loss) Per Common Share - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 11.4	$ 9.4	$ (7.5)	$ (19.9)	$ 20.8	$ (27.4)
Basic weighted average common shares (in shares)	16		11.2		15.1	10.7
Effect of dilutive securities - dilutive securities (in shares)	0.1		0		0.1	0
Diluted weighted average common shares (in shares)	16.1		11.2		15.2	10.7
Basic net income (loss) per common share (in dollars per share)	$ 0.71		$ (0.67)		$ 1.38	$ (2.58)
Diluted net income (loss) per common share (in dollars per share)	$ 0.71		$ (0.67)		$ 1.37	$ (2.58)

Uncategorized Items - klxe-2023

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]